ItalySpaceX's stock price has dropped by nearly 45% in just over a month after its record-breaking initial public offering (IPO). The shares closed at $123.99, significantly below the $135 placement price, marking the eighth consecutive negative session in nine. The decline follows delays in the Starship rocket tests and anticipation of the August lock-up period, during which early investors can sell their shares. With up to $1.37 billion worth of shares potentially becoming available, the increased float could lead to further selling pressure. The previous high valuation was partly driven by market factors like low supply, inclusion in major indices, and passive fund purchases, leading to a price-to-revenue ratio of 140 times. Analysts now await the next weeks to see if the initial enthusiasm was based on fundamentals or artificial market strategies.
Bias read (Center): The article presents a balanced overview of SpaceX’s stock performance, including technical issues, market dynamics, and investor behavior. It does not take a clear ideological stance but rather reports on financial and operational challenges faced by the company post-IPO. The tone remains objective
